JPMorgan Chase CEO Jamie Dimon warns of business 'exodus' from NYC as Mamdani, lefty pols push for tax hikes

JPMorgan Chase CEO Jamie Dimon has warned that high taxes and regulations in New York City are causing a business “exodus,” cautioning Mayor Zohran Mamdani about his proposed tax hikes. Dimon emphasized that cities must compete and that escalating taxes could lead to lower returns and less competitiveness, noting JPMorgan has already shifted jobs out of NYC to other states. He also touched upon broader economic issues in his annual letter, including the potential for inflation from the US-Israeli war on Iran.

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